Eni CEO Dismisses Dalio's Big Short, Saying It's No ‘Big Issue’
- Dalio’s Bridgewater fund bets $300 million against company
- ‘They come, they go,’ stoic oil boss says of hedge fund wagers
Eni CEO Says Bridgewater Short Is 'No Big Issue'
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After years of surviving a sluggish Italian economy and an historic collapse in crude prices, a $300 million bet against his company apparently isn’t enough to spook the head of energy giant Eni SpA.
The short placed against the Rome-based company by hedge fund billionaire Ray Dalio is not a “big issue," Chief Executive Officer Claudio Descalzi said Wednesday during a Bloomberg TV interview. The bet by Dalio’s Bridgewater Associates LP was part of $1.1 billion in wagers against Italian banks and businesses. It was reported by Bloomberg on Tuesday.